On the notion of mergers and aquisitions, what is the total amount of any foreign airline that Air Canada could own?

I know they had stakes in the merger between US airways and America West, and in the past have invested in continential when they were in trouble. Could AC be an active partner in any mergers or aquisitions in the near future?

Can they own a foreign airlines? I.e United or something along those lines?

there is no limit from Canada on owning foreign companies, so AC would be limited by the country it is purchasing in, so in Example the US, where it would be limited to the same restrictions as any other foreign body.

ACE Aviation holdings has stakes in many enterprises at the moment, but the only substantial holding currently is in USAirways i believe.

Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety.

I believe ACE has divested itself of its stake in US Airways. At times it has been rumoured to be looking at investing in Varig. But frankly, ACE seems to be more interested in divesting mostly lately...